Multi Infrastructure & Engineering (MIEPL) won the Solar Energy Corporation of India’s auction to set up a cumulative 4.125 MW solar power project at IIT Kharagpur, West Bengal. The tender was floated in December 2024. MIEPL must complete the project in 270 days. The project’s cumulative capacity includes 2,900 kW rooftop, 1,000 kW ground-mounted, and 225 kW elevated structure systems. MIEPL must use modules from the Approved List of Models and Manufacturers.

The Telangana Electricity Regulatory Commission approved the procurement of 4,000 MW of solar power and the associated power purchase agreements from projects under Component-A of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM). The case stemmed from the Southern and Northern Power Distribution Company of Telangana filing a petition seeking approval to procure 4,000 MW of solar power under Component-A of the PM-KUSUM program for 25 years.

The Tamil Nadu Electricity Regulatory Commission approved an additional surcharge of ₹0.10 (~$0.00117)/kWh for open access consumers procuring power from sources other than the Tamil Nadu Power Distribution Corporation (TNPDCL), including third-party sellers and power exchanges. Effective from April 1, 2025, to September 30, 2025, the surcharge applies to the actual energy drawn and aims to address TNPDCL’s stranded capacity and recover its fixed costs.

Mahasamruddhi Renewable Energy, a special-purpose vehicle of the Maharashtra State Road Development Corporation, invited bids for the long-term purchase of 164 MW of solar power under open access from its projects along a highway connecting Mumbai and Nagpur. Bids must be submitted by May 23, 2025. Bids will be opened on May 26. The scope of work includes purchasing power from MREL’s solar projects under long-term open access, managing all associated formalities and charges, and adhering to the PPA terms.

The Jharkhand Renewable Energy Development Agency invited bids for rate contracts to select agencies for the comprehensive operation and maintenance of a cumulative 3.9 MW of rooftop solar power projects for five years. The last date to submit bids is May 14, 2025.  Bids will be opened on May 16. The scope of work comprises the operation and maintenance of 297 solar systems for five years. It also includes a five-year servicing and replacement guarantee for parts and components such as batteries, electronics, inverters, solar modules, and other hardware. The batteries must be warranted for at least five years.

Electric two-wheeler company Ather Energy’s ₹31 billion (~$363.92 million) initial public offering (IPO) was oversubscribed 1.43 times at the end of the bidding window on April 30, 2025. The price band was set at ₹304-₹321 (~$3.56-$3.76) per equity share. The IPO saw bids for shares exceeding the shares on offer. It had an issue size of 53.36 million shares. Retail investors led the demand, with a subscription rate of 1.78, followed by qualified institutional buyers at 1.7. The non-institutional investors’ portion was subscribed 0.66 times, and the employees’ portion 5.43 times.

Japan-based multinational electronics manufacturer Panasonic discontinued its solar and battery storage business. “We have made the decision to discontinue our solar and battery storage business line. This change allows us to focus on areas where we can have the greatest strategic impact,” Panasonic said on its website. Despite this closure, the company has emphasized its commitment to a smooth transition, assuring continued customer support for existing and future installations.

U.S.-based solar module manufacturer First Solar reported a revenue of $844.57 million in the first quarter of 2025, a 6.4% year-over-year increase from $794.11 million. The revenue was in line with analysts’ expectations. The decrease in revenue was primarily due to an anticipated seasonal reduction in the volume of modules sold. The company lowered its sales guidance for the remainder of 2025 due to new tariffs and ongoing policy uncertainties. Its earnings per share came in at $1.95 compared to $2.20 in the same quarter the previous year. The EPS missed expectations by $0.52.